Market Roundup (PEG, CPN, RRI, FIATY, F)
Although big power producers continue to declare solid earnings, smaller producers are taking a hit in their margins due to lower energy prices. Despite poor quarterly results by the likes of Public Service Enterprise Group (NYSE: PEG), Calpine (NYSE: CPN) and RRI Energy (NYSE: RRI), small producers are reaffirming their projections for the full year.
Chrysler (OTC: FIATY) aims to keep its Sterling Heights plant open after 2012. The company is adding another shift there. This will mean several hundred additional jobs.
Ford (NYSE: F) stated that sales of its small, fuel-efficient cars declined in July. However, sales of the company’s F-Series pickups jumped 40%, making July their best month since March 2008. The market share of the automaker in the US has risen to 17.5%.
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